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Leyshon Resources Ltd’s Pacific Asia Petroleum Limited And Its Partner On Zijinshan Production Sharing Contract To Extend Exploration Period

Thursday, 2 May 2013 02:10am EDT 

Leyshon Resources Ltd announced that agreement has been reached between its wholly owned subsidiary Pacific Asia Petroleum Limited (PAPL) and its partner on the Zijinshan Production Sharing Contract (PSC) to extend the exploration period of the PSC to the end of 2017. The PSC is valid for 30 years and expires in 2038. PAPL has met all the requirements for the extension and an application was submitted well ahead of the required date. The preparation for the extension commenced late in 2012 and is expected to take several months to complete. An announcement will be made once the process has completed. It is common for extension applications, once agreed between the PSC partners, to extend beyond the date of expiry whilst the various regulatory approvals are achieved and for exploration activities to continue as normal during this period. 

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0.0010 +9.09%
11 Jul 2014